Artemis Investment Management LLP Raises Stake in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Artemis Investment Management LLP raised its position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 398.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,530 shares of the company's stock after purchasing an additional 236,224 shares during the quarter. Artemis Investment Management LLP's holdings in Dr. Reddy's Laboratories were worth $4,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Dr. Reddy's Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company's stock worth $36,000 after acquiring an additional 137 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Dr. Reddy's Laboratories by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company's stock valued at $377,000 after acquiring an additional 316 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Dr. Reddy's Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company's stock valued at $64,000 after acquiring an additional 322 shares during the period. Aprio Wealth Management LLC boosted its position in shares of Dr. Reddy's Laboratories by 14.2% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company's stock worth $243,000 after purchasing an additional 380 shares during the period. Finally, Lifestyle Asset Management Inc. boosted its position in shares of Dr. Reddy's Laboratories by 3.2% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company's stock worth $1,088,000 after purchasing an additional 422 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on RDY shares. StockNews.com cut Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Barclays decreased their target price on Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. Finally, Nomura downgraded Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research report on Thursday, December 19th.

Dr. Reddy's Laboratories Stock Up 0.5 %

Dr. Reddy's Laboratories stock traded up $0.08 during mid-day trading on Monday, reaching $14.91. 2,028,244 shares of the company's stock were exchanged, compared to its average volume of 1,369,127. The company has a fifty day moving average of $14.86 and a 200-day moving average of $15.55. The company has a market cap of $12.44 billion, a P/E ratio of 23.82 and a beta of 0.51. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Limited has a twelve month low of $13.47 and a twelve month high of $16.89.

Dr. Reddy's Laboratories Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.